I'D like to share a few thoughts during these challenging

times:

1. We DO listen to advices: We are keenly listening to your feedback and are committed to making necessary changes. Our primary goal for 2023 is to enhance Phala's adoption by web3 developers, and we're already seeing promising progress in this area.

2. Driven by Challenges: Am I satisfied with our current state? Frankly, no. And it is this dissatisfaction that propels us forward. Our team is tirelessly working, day and night, fueled by our commitment to increase adoption and market share. We are excited to share our updated roadmap with you by the end of this year, outlining our strategy for 2024.

3. Long-Term Commitment: Both Hang and I have dedicated four years to the Phala Network, and 2024 will mark our fifth year. This longevity is quite rare in the crypto world and is a testament to our determination to see Phala succeed. We are here to stay, steadfast in our mission, unwavering in our resolve.

4. Any community member can make a change by open-gov: We highly value the input of our community, especially from $PHA token holders and contributors. The Phala Network treasury is open to everyone, and we encourage you to turn your suggestions into formal proposals. You don't need my permission to initiate change. Let's discuss and vote on these ideas together!

We are indeed in a difficult period, and I understand that it may be even harder for our investors. The crypto market is inherently volatile, and everyone has the freedom to choose their path. But I am here to stay, committed to making Phala great.

The real question is, who will stand with us through this journey?

In Phala we trust!

We are with Phala long term🤝🏻. But this relationship can't be one-sided Ser! Btw "difficult times" in what sense?? Lack of runway, lack of devs or what?

Four years is not small, and be proud of the fact that you have the power to rise above any situation and deliver the best results no matter the circumstances.Excellent work👏👏👏 We are with you💪🏻

difficult times = many community members showed lacking of confidence

That might be because nobody other than our ambassadors were talking about Phala. General psychology is: If the product is good, influencers/educators must talk about it,,, which didn't really happen. Also the token value stagnation must have contributed to the lack of belief in the community.

Yes and that means we should be more focus to provide a better product & market position, right? At Phala's stage in a crypto project's lifecycle, you have to be useful to scale. Marketing driven success can barely work for a 3 years old project any more. This is exactly why our team is keep working on the utility of Phat Contract, improving based on marketing feedback. etc

You can always keep improving the product, but for now Phat contracts are already solid enough for adoption and recognition. But the real problem is lack of awareness, that can be solved by good marketing only. At least users/devs should be aware that there's a product that can help scale their applications. We aren't marketing a vapourware, we are marketing a solid tech that web3 need. So why would it not make a impact. Time to take some bold steps.

Agree. And bold steps is coming

Always very clear and honest, that's why I still want to believe in phala 💪, but why is phala not followed by the masses? IMO: because is it not enough to create events waiting for developers to arrive, phala is not yet powerful to attract people, it needs to be implemented by already known and relevant groups in the ecosystem, that's the point. I have no idea who could fill the role of Product specialist but it is necessary and vital.

More importantly they need to keep in mind to improve the value of PHA,I am not sure whether they had the intention for the improvement of pha or not,but if they had that intention m sure pha would have been seen at much higher price from where it is now.I also agree there are many projects that were started 2019-20 have been shutdown but phala is still active and working and some other projects that are still active they ran very far in the race.

making Phala impactful, simple and sexy, it's now or never there will be no third cycle for Phala it's this one or never. developing and coding is good, but if the Ferrari stays in the garage then this Ferrari is of no use... you have to get it out properly. marketing is not just about paying to talk about Phala etc. NO marketing is a set of details… rethink that completely! otherwise the Ferrari will end up or you know.

Couldn't agree more. It's probably the last cycle. We don't have forever.

Exactly,next bull run could be the last one because once rules & regulations kicks in then volatility cant be seen anymore.

👀

Could you give some more detail about this? And when are these steps expected?